A survey of business leaders and supply managers across Iowa finds the state’s economy continued to grow during September, though the rate of growth was slower than during August. Creighton University economist Ernie Goss says despite the slip, Iowa’s in a lot better shape than many other states in the Midwest and nationwide.
Goss says the survey points to good growth for Iowa in the months ahead though the fourth quarter growth won’t be as strong as growth was in the third quarter, which trailed growth in the second quarter. He says the growth is lower but it’s still positive. The end of September also marks the end of the third quarter, during which Goss says Iowa added virtually no net jobs. Still, he predicts positive job growth for the rest of the year.
Goss says job gains in Iowa during September were good, especially compared to August, particularly in light of all the negative impacts from the housing market downturn. He says it’s been a great year for Iowa farmers, especially those who grow corn. Goss says Iowa is seeing very good farm income as ethanol production pushes up growth for the state, while he says the housing market troubles aren’t having as significant an impact in Iowa as elsewhere in the country.
For the remainder of the year, he predicts job growth in Iowa will be stronger for durable or heavy manufacturers than for non-durable producers, while trucking linked to ethanol production will continue to be strong.